He said Christmas trading had been strong with sales up 3.3% in the the three-week period. That was slightly lower than rivals Greene King and Spirit which Findlay said was down to a particularly strong comparative in Christmas 2012 and the group’s lack of London pubs where trading had been particularly good for competitors.

Marston’s served up 55,000 dinners on Christmas Day.

Findlay said operating margins were slightly better than last year and the group’s accelerated plans to open between 25 and 30 pubs this financial year were on track with 11 likely to open in the first half.

On the brewing side, though overall volumes were just below last year in the first 15 weeks, sales of premium beers rose and margins improved with Hobgoblin now outselling Pedigree, particularly in the off-trade.